Binance open interest jumped nearly 8% in 24 hours to surpass $10 billion, reaching a six-month high, CryptoQuant analyst Darkfost said. BTC is retesting its May high near $82,000 as speculative activity drives a sharp rise in open interest.
Open interest measured in BTC reached 125,830 BTC, indicating the uptrend remains intact even after excluding price effects. Binance’s market share has exceeded 37%. The analyst said futures market speculation can create demand and push BTC higher, but such moves are often short-lived without spot investor participation, which is not currently present.
Binance Open Interest Tops $10B, Hits Six-Month High
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